Nearly 90% of the FXRP circulating supply has been deployed in the DeFi protocol.

- Flare Data Connector Costs currently account for 45% of the protocol's revenue.

- Flare Plans to advance the integration of Bitcoin and deploy confidential computing to the mainnet.

According to a new report on the adoption, technology, and token economics of this blockchain network ( DefiLlama ), nearly 90% of the circulating supply of the token FXRP , which is aimed at XRP ( Flare ), has been deployed in decentralized finance ( DeFi ) protocols.

Analysis reveals that among the 145 million FXRP tokens in circulation, approximately 129 million have been deployed in the DeFi application.

These findings highlight that the use of assets linked to XRP in lending and other decentralized financial services is on the rise.

FXRP was launched in September 2025 through the FAssets system of Flare. This system enables holders of XRP to access opportunities in DeFi.

Flare is a blockchain that is compatible with the Ethereum Virtual Machine (EVM), focusing on decentralized data infrastructure.

The lending market occupies the largest share of FXRP deployments.

The lending market is the largest use case for the deployed FXRP. Related activities are distributed on Flare at Morpho and Kinetic, on Ethereum at Morpho, as well as on Monad at Euler.

A large portion of this token supply is used as collateral, allowing holders to borrow against their XRP exposure without having to sell the assets they hold.

This provides investors with a way to obtain liquidity while retaining their exposure to the underlying assets.

The report highlights the RLUSD vault activities of Sentora at Morpho: As of late September, 10.6 million FXRP provided support for a supplied RLUSD worth 7.9 million US dollars.

These data indicate that the use of FXRP is no longer merely for simple token transfers; holders are deploying this asset into lending markets and other financial applications.

Cross-chain adoption is also expanding. Currently, there are approximately 20 million FXRP tokens deployed on networks other than Flare, which is a fivefold increase from July.

As a LayerZero fully decentralized, homogenous token ( Omnichain Fungible Token ) issued by FXRP, it has now expanded to 7 networks.

According to the announcement, this token also became the first XRP spot trading pair on HyperCore in January.

Flare Data fees have become its fastest-growing source of revenue.

In addition to the DeFi ecosystem centered around XRP, the report also examines the development of Flare data infrastructure and its contribution to online revenue.

Since the implementation of FIP.16, the cost incurred by Flare Data Connector has grown at a faster rate than any other source of revenue for the protocol.

This connector is used to verify events that occur on other blockchain networks and currently accounts for 45% of the total revenue from the Flare protocol.

The report also indicates that there has been a change in the FLR collateral model.

Between April and August, the proportion of directly pledged tokens among the FLR that were either pledged or entrusted increased from approximately 32% to 46%.

This change occurred after a hard fork in July, and that upgrade increased the weight of direct staking.

These developments indicate that as applications built around XRP grow, Flare's data-related services are becoming an increasingly important part of its network economy.

The integration of confidential computing and Bitcoin is a milestone for the next phase.

Flare is still developing Flare Confidential Compute ( FCC ), which is a system designed to verify the results of smart contracts derived from institutional private data without exposing sensitive information.

Its first institutional-level application has been launched on the Songbird Canary Network and supports the USDX stablecoin reserve certification of Hex Trust.

DefiLlama believes that the potential of this technology will go beyond traditional data feeding.

The report states that as applications grow, FCC "will become more akin to a预言机 primitive for private data, playing the role that FTSO plays in the public pricing domain within the field of institutional information."

Looking to the future, the report identifies the FBTC products for Bitcoin integration, the mainnet deployment of Confidential Compute, and higher protocol revenue as key milestones for Flare.

The progress of these initiatives will help determine whether the network can expand its data infrastructure beyond XRP related applications and attract a wider range of institutions to participate in decentralized finance.